Latest on Regulation & Reform – Page 423
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Netherlands needs FGRs to become 'pensions champion'
[15:30 CET 310-10] NETHERLANDS - The Dutch financial services sector could stimulate its international pensions position through the creation of cross-border asset-pooling vehicles based on existing mutual funds for joint accounts (FGRs), pension fund experts have argued.
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Ireland doomed without pension reforms – IMF
[16:00 CET 30-10] IRELAND – Ireland’s public debt will increase to unsustainable levels in the absence of pension and other reforms, argues the International Monetary Fund (IMF).
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AP1 exits Carnegie committee in protest
[15:45 CET 30-10] SWEDEN – AP1, the largest Swedish buffer fund SEK221bn (€24bn) AP1 has withdrawn its delegate from the nomination committee at Carnegie bank, in protest against the proposed new chairman.
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‘Solvency II must be modified’ – AEIP
[15:30 CET 30-10] EUROPE – The European Association of Paritarian Institutions of Social Protection (AEIP) has warned the Solvency II proposals must be modified to suit main IORP directive principles for pension schemes.
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Former minister calls for local pensions ringfence
[16:30 CET 29-10] NETHERLANDS - Dutch pension funds should support the domestic financial services industry by ring-fencing capital for domestic investment managers, former foreign affairs minister Ben Bot has suggested.
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Cable & Wireless considers buyout
[16:15 CEST 29-10] UK – Telecoms group Cable & Wireless (C&W) is in the early stages of talks to sell off its £2bn UK pension fund, IPE has learnt.
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Morley keeps watch on European diversified launch
[14:00 CET 29-10] UK - Aviva’s asset management arm Morley has launched a multi-asset fund targeted at smaller UK pension funds but which it hopes to be able to roll out across Europe in due course.
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PKA and Sampension act on Burma
[16:45 CEST 26-10] DENMARK – More Danish pension funds are moving to offload holdings in French oil company Total and US firm Chevron, in support of the Danish government’s stance on trade with politically-troubled Burma.
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Outgoing gov't pulls PZU privatization
POLAND – The Polish government today withdrew an agreement to float the state-controlled insurance giant PZU on the stock market.
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Ombudsman warns pension schemes are 'misleading' members
[11:00 CEST 26-10] IRELAND - The Pensions Ombudsman has alleged "communication in the pensions industry is sometimes misleading", leaving members uncertain about their contributions and potential benefits.
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Bank of Ireland secures LifeBalance deal
[16:58 CEST 25-10] IRELAND – The Bank of Ireland has agreed a deal with union officials to introduce a hybrid DB/DC pension scheme, following the closure of its final salary scheme last year.
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German Cabinet passes 'acting in concert' bill
[16:00 CEST 25-10] GERMANY – The government today passed a disputed bill for more transparency of investments in the German market.
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Germans up support for compulsory second pillar
[15:30 CEST 25-10] GERMANY – Making occupational pension provision compulsory would help ease fears over poverty at retirement, an increasing number of Germans agree.
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PPF seeks help to clean up scheme data
[12:00 CEST 25-10] UK – The Pension Protection Fund (PPF) is tendering for services to review data of incoming pension schemes.
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Collectum computer crash forces ITP extension
[14:00 CEST 24-10] SWEDEN – Collectum, the online services responsible for pooling money within Sweden’s white-collar pension scheme ITP, has extended the period within which people decide where to invest their money because of technical difficulties.
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Pension experts disagree over deferred benefits
[16:00 CEST 23-10] UK – The National Association of Pension Funds (NAPF) has backed a proposal by the government to half the cap on indexation of deferred retirement benefits, but consultancy experts have criticised such reforms.
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Scottish MPs plan 'flexible retirement'
[15:30 CEST 23-10] UK – Nearly half of Scottish members of parliament (MSPs) would be able to claim their pensions while still serving, under new plans being considered by the Scottish Parliament.
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Eumedion sees detriment in 'acting in concert' plan
[15:30 CEST 23-10] GERMANY/NETHERLANDS - German government proposals to sharpen the rules on 'acting in concert' will be detrimental to the attractiveness of the German capital markets, said Eumedion, the Dutch platform for institutional investors.
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Tesco staff have lower life expectancy - study (Update)
[14:30 CEST 23-10] UK – Life expectancy of individuals varies significantly, not only by the size of the pension fund analysed but also by industry sector, suggests new research by Pension Capital Strategies (PCS) and Continuous Mortality Investigation (CMI).(Update with quotes from Charles Crowling)
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ABP sets date for fund’s split
[16:45 CEST 22-10] NETHERLANDS – The €215bn Dutch ABP pension scheme has today named the date for its earlier announced split into a fund and an - as yet nameless - separate administration body.
